Are you worried about the cooling job market in Singapore? There is no need for undue fear! Our local workforce remains resilient, as evidenced by the fact that the growth of resident employment outstripped that of non-resident employment in 2022.

General Employment Outlook

Employment growth has not been even across industries in Singapore. In the Job Vacancies Report 2022 released on 30 March this year, the Ministry of Manpower (MOM) identified four main growth sectors:

• Banking and Finance
  Information Technology
• Professional Services
• Health and Social Services.

There has been a sustained demand for skilled professionals in these growth sectors—they accounted for 46 per cent of the PMET (Professionals, Managers, Executives and Technicians) roles unfilled for at least six months in 2022. Information Technology in particular had the highest proportion of vacancies for new positions.

Top Ten PMET Positions in 2022

According to MOM, here are the ten PMET positions most highly sought after by companies in Singapore:

• Management Executive
• Software, Web and Multimedia Developer
• Commercial and Marketing Sales Executive
• Teaching and Training Professional
• Administration Manager
• Software and Applications Manager
• Registered Nurse and Other Nursing Professional
• Systems Analyst
• Business Development Manager
• Mechanical Engineer.

Out of the top ten PMET job vacancies, seven of them require a Bachelor’s Degree as the minimum qualification. These following positions are the notable exceptions: (i) Teaching and Training Professional, (ii) Software and Applications Manager and (iii) Registered Nurse and Other Nursing Professional.

That being said, academic qualifications are not the primary consideration for 64.5 percent of PMET job vacancies in 2022. This is a marked increase from 42 per cent of PMET vacancies five years ago. For PMET vacancies where academic qualification is not the key determinant, companies mainly evaluate potential candidates based on their skills and work attitude.

What Does This Mean For You?

Having a higher qualification does not mean you will be automatically ranked ahead of other candidates. Once you possess the minimum required qualification, your skills and work attitude are factors which will tip the scales in your favour.

In the World Economic Forum (WEF)’s Future of Jobs Report 2023, local employers identified the top ten skills most prioritised for reskilling and upskilling in the next five years:

• AI and Big Data
• Creative Thinking
• Resilience, Flexibility and Agility
• Analytical Thinking
• Leadership and Social Influence
• Curiosity and Lifelong Learning
• Technological Literacy
• Motivation and Self-awareness
• Networks and Cybersecurity
• Talent Management.

It is clear from these findings that you should focus on digitalisation in your upskilling efforts. As companies move forward and embrace innovation, you need to keep up with the pace of digital transformation. Generative AI tools (#1) such as ChatGPT may be as ubiquitous as Microsoft Excel, Powerpoint or Word in the near future. Don’t wait for that moment to start learning!

Besides honing your technical abilities, you should cultivate several important soft skills. Along with your technical competency, they will get you in the door and help you thrive in your role. Resilience and agility (#3) are often underrated in the workplace—you have to be able to adapt to whatever environment you find yourself in.

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Read more:

How Much can Fresh Graduates in Singapore Earn?

What Some Bankers Earn in 2022

We Asked ChatGPT If It’ll Make Us Jobless